"I was so honored to be able to do it in 2012. It is one of the greatest experiences in my life. But I think the men who run will tell you too, it's one of the most difficult things you ever [embark] upon."

The Minnesota Republican has yet to completely rule out a bid. In a farewell speech at the Heritage Foundation earlier Wednesday, Bachmann encouraged Republicans to "go bold" on initiatives like tax reform if they takeover the Senate this election.

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"You either go bold, or you don't go at all. If you want somebody to lead the debate, I'll lead the debate," she said.

Bachmann has remained a fierce leader in the far right side of the conservative movement, particularly in regards to mobilizing the base. In 2010, she established the Tea Party Caucus in the House. She later went on to win the Ames Straw Poll in 2011, but went off to finish in sixth place in the Hawkeye State caucuses.

Bachmann has mentioned that her retirement from Capitol Hill does not mean she'll be inactive in national politics. In July she told RealClearPolitics that there's a chance she could run against the "various men" that the media has speculated to run. She has since said that was a "rhetorical comment."

"The context of my remarks were that they were suggesting that no woman would be running for president on the Republican side, and I said, 'Well, I'm an obvious choice,'" Bachmann told The Hill. "So, that was the nexus of my remarks: Who knows, maybe I'll run. It wasn't that I was going to. It was just a rhetorical comment."